China’s Cosmx, one of the world’s largest smartphone battery pack suppliers, has entered into a joint venture with Chennai-based Munoth Industries to source lithium-ion cells locally in India. The move is part of Cosmx’s strategy to expand its footprint in India and strengthen supply to global smartphone manufacturers operating in the country.
Instead of setting up its own manufacturing plant, Cosmx will partner with Munoth—whose cell manufacturing plans are already approved under India’s Electronics Components Manufacturing Scheme (ECMS). The JV will include technology transfer and a minority stake (~26%) by Cosmx, with production expected to begin around late 2026 (subject to approvals).
The collaboration comes as India aims to reduce reliance on imported battery cells and build a domestic battery manufacturing ecosystem, especially amid tightening global supply chains and export controls on battery technologies.
Why This Matters
• Strengthens India’s local lithium-ion battery manufacturing ecosystem
• Reduces dependency on imported battery cells
• Supports growth of electronics and EV supply chains
• Enables technology transfer and global partnerships in battery tech